One of Williamsburg’s biggest developers is still betting big on the Burg. Issac Hager’s North Development Groupâ€”which had a stake in the Aurora, Ikon and 20 Bayard, the three contiguous buildings on Bayard overlooking McCarren Park and is building the triangle tower in Downtownâ€”recently paid a pretty penny ($42.5 million, to be more exact) for a lot on South 8th Street between Kent and Wythe. DOB filings on the property stretching back a few years show that the previous owners (“Waterview Gardens, LLC”) had plans approved for a 7-story, 20 unit building; the most recent filings indicate that’s still North Development Group’s intention but it seems to us he’d have to build something significantly larger to justify that purchase price. Whatever ends up getting built, though, we find the investment interesting, since we read it as a show of confidence in the immediate area (across the street from Schaefer Landing and a few blocks away from the Domino) despite the thousands of units already on the drawing board. Update: A commenter points to an approved building permit for 20 stories!
Drilling Down Into McCarren Park Development [Brownstoner] GMAP P*Shark DOB
Flatbush Flatiron Gets Ready for Take-Off [Brownstoner]